Aerospace And Defense Industry Of Turkey Market Size

Turkish Aerospace and Defense Market Analysis

The Aerospace And Defense Industry Of Turkey Market size is estimated at USD 15.27 billion in 2024, and is expected to reach USD 16.17 billion by 2029, growing at a CAGR of 1.15% during the forecast period (2024-2029).

Turkey is one of the major hubs for transcontinental travel as the country is located between the West (Europe) and the East (Asia and the Middle East). The country is also located to the north of the globe, allowing quicker trans-artic travel to North America. This factor drives the aviation industry in Turkey. Turkey had 12% of commercial aircraft deliveries out of the total aircraft delivered in Middle East & Africa during 2018-2022. As of 2022, Turkey’s active business jets accounted for 12% of the Middle East and African fleet.

The growing passenger traffic in the country is propelling the demand for new commercial aircraft from the airlines operating in the country, such as Turkish Airlines, SunExpress, Pegasus Airlines, Onur Air, Corendon Airlines, and Anadolujet. Thus, the growth in passenger traffic is increasing the demand for new commercial aircraft in the country. The government's emphasis on domestic manufacturing has been increasing rapidly, and currently, the country's product portfolio includes UAVs, cruise missiles, and armored vehicles, among others.

However, the market may be marred by challenges such as brain drain, the ongoing currency crisis, dependence on foreign suppliers, and regional political disputes. Nevertheless, since Turkey is a part of the NATO alliance, its aerospace and defense industry is likely to be in sync with the adoption of advanced resources by the other NATO partners.